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What capital gains laws are there on rental properties?

April 28, 2003


From:  Mike
Date:  Thu, 13 Mar 2003

What are the current laws regarding capital gains on the sale of rental properties (single family house)?

Mike

Answer

Date:  04 Apr 2003

This is not a short answer question. See Form 4797, Schedule D and the related instructions. It depends on when the property was acquired. There may be ordinary income for depreciation recapture in some cases. In others, the gain up to the amount of accumulated depreciation is taxable at a 25% maximum tax rate. I recommend that you consult with a tax advisor for more details.

Good luck!
Mike Gray

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What capital gains laws are there on rental properties?

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